When the Nasdaq Outperforms

The Nasdaq is outperforming the S&P for the second consecutive session as both indexes trade lower. Historically this has been a bullish sign for the Nasdaq the following session. Listed below are all instances since 1990 in which the NDX & SPX closed down more than 0.5% two consecutive sessions and the NDX outperformed the SPX both days. Note that in 15 out of 17 cases, the NDX closed higher the following session.

06/16/09… Nasdaq100 +0.9% next session
03/02/09… Nasdaq100 +0.4% next session
01/30/09… Nasdaq100 +1.3% next session
11/20/08… Nasdaq100 +4.7% next session
11/12/08… Nasdaq100 +6.5% next session
10/27/08… Nasdaq100 +10.9% next session
07/27/07… Nasdaq100 +0.9% next session
05/10/04… Nasdaq100 +1.8% next session
03/11/04… Nasdaq100 +2.1% next session
03/11/03… Nasdaq100 +1.2% next session
10/07/02… Nasdaq100 +0.9% next session
07/22/02… Nasdaq100 -4.5% next session
07/10/02… Nasdaq100 +4.1% next session
08/30/99… Nasdaq100 +1.3% next session
08/08/97… Nasdaq100 -1.2% next session
01/15/90… Nasdaq100 +2.1% next session
01/05/90… Nasdaq100 +0.2% next session

Currently the NDX is outperforming the SPX by a very slim margin (0.05%), so it’s not certain this setup will be triggered.

Categories : Archived Intraday Commentary, Intraday Commentary

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